We’ve been at this a pretty long time, here at zlien. We talk to businesses in the construction industry every day, helping each of them to get paid the money they’ve earned on their projects.
Through all of the conversations, we learn all about their businesses, their successes, and their challenges. Though each company is unique, when taken together, you start to see patterns and trends – certain, specific issues that tend to be shared by many construction industry participants across the country.
One of those commonalities is the industry-wide challenge of collecting all of the project info that’s required to protect your payments. This is easily one of the primary reasons why zlien customers come to us in the first place.
In the following article, we’re going to discuss some of the more difficult aspects of this task, and we’ll also explain why collecting accurate, complete project information is so important to getting paid.
Why Does the Project Info Matter?
Mechanics liens and bond claims are two very powerful tools that can virtually guarantee that construction industry participants get paid the money they’ve earned on their projects. However, these tools, along with the required construction notices that go with them, all have certain pieces of required project information that must be included in order to secure and maintain the right to get paid.
Some information, like your own company name, the name of the company that hired you, or the amount of money you’re owed, might be easy to find. Other information, like the legal property description, for example, might be more difficult to find out. (On the other hand, sometimes even getting your own company’s name correct can be a problem!)
It doesn’t matter if the project info that’s required in the state where your project is located is easy to find or more difficult. If it’s required and you don’t have it, then guess what – you may have just killed your payment rights.
The Info You Should Collect at the Start of Every Project
Watch Out For:
|Some states require a Full Legal Property Description. Other states have different requirements. This can be deceptively difficult!|
on the Project
|Are you the subcontractor or a sub-sub? Are you an equipment rental co. or material supplier?||Project role is usually determined by whoever hired you. But not every role has lien rights on every project!|
|Project Type||Is it private, public, or federal? Commercial or residential?||Project type is very important and partly determines not only what the requirements are, but even the very tools that are available!|
on the Project
|You’ll need to know who hired you, the GC, the project or property owner, and potentially other project participants.||The parties you’re required to know will vary from state-to-state and from project-to-project. There is no universal requirement here, so be careful!|
|Project Dates||Could include:||This is yet another category of project information where there is no universal requirement. The required dates you will need to secure your project payments will depend on the lien laws of the state where your project is located. Sometimes these dates can be very hard to determine, so be careful!|
Protect Your Payments, Starting Today
One of the most valuable services we provide here at zlien is protecting our customers from the damage that can be caused by what they don’t know on their projects. If you’d like to learn more, we’d like to show you how we do it.